The government will take stern action against any attempt to manipulate the liquefied petroleum gas (LPG) market, create an artificial shortage or hold people hostage through strikes, Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood said today.
"LPG is an essential commodity. If anyone disrupts its supply and creates a situation contrary to public interest, legal action will be taken against those responsible," he said.
The minister made the remarks at a press conference following a meeting with LPG operators at the conference room of the ministry at the Secretariat here.
He said the global energy sector was facing significant challenges amid ongoing conflicts, creating uncertainty over fuel supplies and prices in various countries.
International energy prices also remained volatile. Against the backdrop, the government was holding discussions with relevant stakeholders to ensure a stable LPG supply and keep prices at an affordable level in the domestic market, he added.
Mahmood said the private sector played a direct role in LPG supply, making consultations with operators essential to resolving existing market problems.
The meeting discussed the challenges faced by businesses and ways to restore normal market conditions, he said.
The government was reviewing LPG prices and supply conditions in light of global uncertainties. The relevant authorities had been instructed to take necessary measures to maintain price stability and address legitimate concerns of businesses, he added.
He said further discussions with stakeholders would be held on October 20 to help maintain normal market conditions and ensure stability in the supply chain.
Replying to a question about the threatened strike, the minister said the government had discussed the issue with LPG businesses and made its position clear.
Speaking at the same press conference, Commerce Minister Abdul Muktadir said private-sector companies were involved in LPG supply and marketing in Bangladesh.
He said the government adjusted LPG prices every month in line with international market movements under the pricing formula set by the Bangladesh Energy Regulatory Commission (BERC).
LPG dealers and retailers had raised various demands and threatened to call a strike during the final two days of the current week, he said.
The meeting with LPG operators discussed strategies to maintain stable supplies for the remainder of the current year and throughout the next year, he added.
Warning against the threatened dealers' strike, the commerce minister said specific laws governed the supply and trading of essential commodities.
Under the Essential Articles (Price Control and Anti-Hoarding) Act, 1956, the government would take strict measures against attempts to manipulate the supply of essential goods, disrupt the market in ways contrary to public interest or cause hardship to consumers through threats, he said.
He stressed that LPG was closely linked to the daily lives of millions of people, as it was used for cooking and other essential household needs. Any disruption in its supply would directly affect ordinary consumers, and the government would not accept such a situation.
The minister acknowledged that businesses could face various challenges, including disputes over profit margins, commissions and commercial terms. However, such issues could be resolved through dialogue, he said.
The meeting discussed LPG prices, supply conditions, the demands of businesses and the impact of volatility in international markets, reports BSS.